IncomeTax is on Income. If income does not result at all, there cannot be a tax, eventhough in book-keeping, an entry is made about a ” hypothetical income”: Supreme Court
Income from undisclosed sources—Addition under section 68—Liability payable as a consequence of trading transaction
Landmark Judgment : Booking of bare shell of a flat was a case of construction of house property and not purchase – Capital Gain exemption if construction completed within 3 years
Generation and quoting of Document Identification Number (DIN) on any communication issued by the officers of the Central Board of Indirect Taxes and Customs (CBIC) to tax payers and other concerned persons — reg.
Applying the definition of benami property and benami transaction the Central government could not, on the basis of the 2016 amendment allege contravention and start the prosecution in respect of a transaction in 2011.
Whether the Tribunal was right in holding that the income would crystallize on approval of assessee’s claim for reimbursement by competent authority while dealing with the issue of reimbursement
AO is directed to restrict the addition to the extent of lower GP declared by the assessee in respect of bogus purchases as compared to G.P. on normal purchases
Denial the benefit of reduction in the rate of goods and service tax granted vide Notification dated 14.11.2017 to his customers.
